Resale purchase question!

[Polynesian27]

Hi all, I’m looking to purchase a resale contract of 120 points with a use year of October. The contract has zero current points with 120 coming in October of 2019. My question is....if I buy this contract and close in April, can I borrow 120 right away to book a trip for July before my use year? In other words, can you borrow right away or do I have to wait until my use years comes up for the first time? I understand how borrowing and banking works but wasn’t sure if there were rules about borrowing right out the gate? Thanks so much!

 

[CarolynFH]

As soon as you have your account set up and the points loaded, yes, you can book, even if it involves borrowing points immediately.

Welcome Home!

 

[sndral]

Good luck.
I find it helps to write it out to figure out which points I can use for any particular trip, thus for your July 2019 trip you would have access to:
Banked 2017 points (10/1/2017 - 9/30/2018 that were already banked into 2018 use year) - 0
Current 2018 points (10/1/2018 - 9/30/2019) - 0
Borrowed 2019 points (10/1/2019 - 9/30/2020) - 120
When you have your account set up online you’ll be given the option to borrow points when you make your reservation. Since you will be w/in 7 months when you make your July reservation you can also purchase up to 24 one time use points - I think Disney charges around $20 per point for those.

 

[chalee94]

You may want to read and bookmark this thread for reference:

https://www.disboards.com/threads/understanding-use-year-updated-april-27-2016.1942668/

 

[drusba]

I would not make a purchase under the assumption you will be able to get a room you want for July 2019. By the time you close and become able to make a reservation, little, if anything, may be left to reserve for July

 

[Deb & Bill]

Hi all, I’m looking to purchase a resale contract of 120 points with a use year of October. The contract has zero current points with 120 coming in October of 2019. My question is....if I buy this contract and close in April, can I borrow 120 right away to book a trip for July before my use year? In other words, can you borrow right away or do I have to wait until my use years comes up for the first time? I understand how borrowing and banking works but wasn’t sure if there were rules about borrowing right out the gate? Thanks so much!

If you put the purchase in process today, you won't close in April. May if you are lucky.

 

[Katie L]

If you put the purchase in process today, you won't close in April. May if you are lucky.

I think it's reasonable to say they will close in April - or very feasible. Won't have points for a few weeks after that though - which would/could push to may. One person I saw in the closing time thread had 45 days from offer to points in account - but that is certainly accelerated - not something to count on.

 

[MB_01]

At least you are hoping for the trip to be in July. Seems like you might have a chance at SSR or maybe even AKV or OKW. Might have to split the stay between multiple resorts but July seems like a slower time for people to stay on points. Can't imagine why?! I just finished rehydrating from my last July trip in 2015.

 

[ScubaCat]

July is also "magic season" for WDW resorts, so you get to use a lot more points for the privilege of experiencing that heat. A lot of people shift to fall for F&W and lower points rates.

One caveat here is if the points were already banked previously. In that case, you could not borrow them and will have to redeem them for dates between 10/1/2019 and 9/30/2020.